TIDMMERI
RNS Number : 3008B
Merian Chrysalis Investment Co. Ltd
07 October 2020
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES. THIS
ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER TO
SELL OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR
SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA,
JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (THE "EEA")
OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
7 October 2020
Merian Chrysalis Investment Company Limited (the "Company")
Result of Capital Raise
Further to the announcement made by the Company on 28 September
2020, the Company today announces that it has successfully raised
gross proceeds of GBP95 million pursuant to the Placing and the
PrimaryBid Offer (together the "Issue").
The Board is pleased with the strong response to the Issue, with
demand exceeding the initial target raise, which will enable the
Company's Investment Adviser to use equity funding in executing the
investment in You & Mr Jones LLC as announced on 1 October
2020, together with other pipeline and follow-on investments.
Accordingly, under the Issue an aggregate of 64,189,189 new
Ordinary Shares have been issued and allotted conditionally upon
admission at a price of 148 pence per Ordinary Share.
Applications have been made for the admission of 64,189,189 new
Ordinary Shares to listing on the premium listing segment of the
Official List and to trading on the Main Market of London Stock
Exchange Group plc ("Admission"). It is expected that Admission
will become effective and that dealings in the new Ordinary Shares
will commence at 8.00 a.m. on 9 October 2020.
Following Admission, the Company will have 400,931,613 Ordinary
Shares in issue. Therefore, the total number of voting rights of
the Company will be 400,931,613 and this figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest, or a
change to their interest in, the Company.
Richard Watts, portfolio manager, commented:
"We are extremely grateful to our investors who have continued
to support our efforts to build Merian Chrysalis into a significant
crossover investor. The proceeds of this raise will primarily be
used to fund our recently announced investment in You & Mr
Jones, which we believe is a very exciting addition to the
portfolio which diversifies our sector exposure."
Nick Williamson, portfolio manager, added:
"Our medium-term ambition for Merian Chrysalis is to build a
company of substantial scale that will use realisations to become
self-funding. While we expect NAV growth to be a significant
contributor to this scaling process, this raise marks another step
in this direction. We are confident that the net proceeds, post the
You & Mr Jones investment, can be deployed in a timely manner
into strong investment ideas."
For further information, please contact:
Merian Global Investors:
Amelie Shepherd +44 (0) 20 3817 1686
Liberum:
Gillian Martin / Owen Matthews +44 (0) 20 3100 2222
Numis Securities
Nathan Brown / David Benda +44 (0) 20 7260 1000
Maitland Administration (Guernsey)
Limited:
Aimee Gontier / Elaine Smeja +44 (0) 1481 749364
LEI: 213800F9SQ753JQHSW24
Important Notice
This announcement has been issued by and is the sole
responsibility of the Company. Liberum Capital Limited ("Liberum")
and Numis Securities Limited ("Numis" and together with Liberum,
the "Joint Bookrunners"), each of which are authorised and
regulated by the Financial Conduct Authority in the United Kingdom,
are acting only for the Company in connection with the matters
described in this announcement and are not acting for or advising
any other person, or treating any other person as its client, in
relation thereto and will not be responsible for providing the
regulatory protection afforded to clients of each of them or advice
to any other person in relation to the matters contained herein.
Neither Liberum, Numis nor any of its or their respective
affiliates, directors, officers, employees, advisers or agents
accepts any responsibility or liability whatsoever for this
announcement, its contents or otherwise in connection with it or
any other information relating to the Company, whether written,
oral or in a visual or electronic format.
The Joint Bookrunners have not authorised the contents of, or
any part of, this Announcement and no liability whatsoever is
accepted by the Joint Bookrunners for the accuracy of any
information or opinions contained in this Announcement or for the
omission of any information. No representation or warranty, express
or implied, is made by the Joint Bookrunners as to the accuracy,
completeness or verification of the information set out in this
Announcement, and nothing contained in this Announcement is, or
shall be relied upon as, a promise or representation in this
respect, whether as to the past or the future. The Joint
Bookrunners do not assume any responsibility for its accuracy,
completeness or verification and accordingly disclaims, to the
fullest extent permitted by applicable law, any and all liability
whether arising in tort, contract or otherwise which it might
otherwise be found to have in respect of this Announcement or any
such statement.
This Announcement does not constitute or form part of any offer
or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for, any Ordinary Shares (i) in any
jurisdiction in which such offer, invitation or solicitation is not
authorised; (ii) in any jurisdiction in which the person making
such offer, invitation or solicitation is not qualified to do so;
or (iii) to any person to whom it is unlawful to make such offer,
invitation or solicitation. The distribution of this Announcement
and the offer of the Ordinary Shares may be restricted by law.
Persons into whose possession this Announcement comes must
therefore inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction. In particular, this Announcement may not be
distributed, forwarded to or transmitted in, into or from the
United States, Australia, Canada, Japan, South Africa, or any
member state of the EEA or to any US person (as defined under
Regulation S of the US Securities Act of 1933, as amended (the "US
Securities Act")) ("US Person"). The Ordinary Shares have not been,
and will not be, registered under the US Securities Act, or under
any securities laws of any state or other jurisdiction of the
United States and may not be offered, sold, resold, transferred or
delivered, directly or indirectly, in or into the United States or
to, or for the account or benefit of, any US Person, except
pursuant to an applicable exemption from the registration
requirements of the US Securities Act and in compliance with the
securities laws of any state or other jurisdiction of the United
States. Any person within the United States and any US person who
obtains a copy of this Announcement must disregard it. No public
offering of the Ordinary Shares is being made in any jurisdiction.
No action has been or will be taken by the Company or the Joint
Bookrunners that would permit the offer of the Ordinary Shares or
possession or distribution of this Announcement in any jurisdiction
where action for that purpose is required.
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END
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